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Just found out our quarterly bonuses are frozen (dumb economy)

by J. Money on Thursday, October 16, 2008

J. Money vs. The EconomyYup, it’s offical! They are frozen for a “while”. I can’t say it’s all too surprising though – the last one we’ve received was back in February! haha….I’m just hoping it’ll pick up as the economy does, but who really knows.

While i’d like to bitch and moan about it, i really can’t without coming off as a spoiled employee ;) I’ve been getting a free $2,000 every 3 months which sure ain’t part of the job, ya know? Now, if i were in sales that would be one thing, but we’re a small start up and it’s more about sharing ownership in the company than direct performance.

Still, it’s what….$8k a year that i was sorta-kinda-but-not-really counting on ;) Luckily it’s not part of my budget at all, which is something my dad once taught me growing up – they’re called a “bonus” for a reason. It will, however, delay a few yearly goals:

  1. It Decreases the odds of hitting my $100k Net Worth goal.
    Not that the market hasn’t killed this already, right? Unfortunately these are all things outside of my control, so while my goals may not get met, at least i can’t blam myself or any of it ;) Guess it’s just the way life works out sometimes.
  2. It Decreases Kills the odds of topping off my Emergency Fund.
    I still have a good $4,000 in it, partially filled from the 1 bonus we did get this year + the stimulus check, but i was hoping to max it out this year with another $1,200 directly from the other bonus’…oops.
  3. It Decreases Kills the odds of paying off the credit card by end of year.
    This was more of a new goal for myself when i slapped my car purchase on it, but i guess it’ll have to be done the old fashioned way – paying $400 steady each month (the same amt. as my old SUV payment).
  4. It Knocks my millionaire plan off by a bit.
    I planned on investing/saving all the rest after tidying up the above 2 goals. i’ll have to recalculate this if the freeze goes to “frozen 4 ever” mode.

Oh how i shall miss you, Bonus! It just goes to show that you can’t ever count on anything these days, no matter how stable your job may be. That, and being financially responsible is always in your best interest!

There’s talk that they will resume during Xmas time, and possibly with even retro-pay, but i’m not counting on it…that’s like my Redskins winning the Superbowl ;)

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